Asia: Hay-Making Machinery Market 2025

Hay-Making Machinery Market Size in Asia

In 2021, the Asian hay-making machinery market increased by 0.2% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a slight slump. The growth pace was the most rapid in 2017 with an increase of 4.1%. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Hay-Making Machinery Production in Asia

In value terms, hay-making machinery production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 7.4%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Hay-Making Machinery Exports

Exports in Asia

In 2021, overseas shipments of hay-making machinery increased by 45% to X units, rising for the fourth year in a row after two years of decline. Over the period under review, exports recorded buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 67%. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, hay-making machinery exports surged to $X in 2021. Overall, exports enjoyed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of hay-making machinery in Asia, with the volume of exports recording X units, which was near 73% of total exports in 2021. It was distantly followed by Turkey (X units), committing a 24% share of total exports. India (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to hay-making machinery exports from China stood at +32.0%. At the same time, India (+39.0%) and Turkey (+8.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +39.0% from 2012-2021. While the share of China (+44 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-31.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hay-making machinery supplier in Asia, comprising 73% of total exports. The second position in the ranking was taken by Turkey ($X), with a 20% share of total exports.

In China, hay-making machinery exports expanded at an average annual rate of +20.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+9.8% per year) and India (+42.2% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, surging by 3.3% against the previous year. Overall, the export price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2014 an increase of 22%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.3%), while the other leaders experienced mixed trends in the export price figures.

Hay-Making Machinery Imports

Imports in Asia

In 2021, approx. X units of hay-making machinery were imported in Asia; increasing by 27% on 2020. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +84.6% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 28% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, hay-making machinery imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +105.2% against 2016 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 63% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

In 2021, Japan (X units), distantly followed by China (X units), South Korea (X units), Kazakhstan (X units), Kyrgyzstan (X units), Thailand (X units) and Bangladesh (X units) represented the main importers of hay-making machinery, together creating 70% of total imports. Azerbaijan (X units), Indonesia (X units), Cyprus (X units), the United Arab Emirates (X units), Israel (X units) and Turkey (X units) took a relatively small share of total imports.

Imports into Japan increased at an average annual rate of +8.3% from 2012 to 2021. At the same time, Bangladesh (+57.1%), Thailand (+52.5%), Cyprus (+38.0%), Indonesia (+32.2%), the United Arab Emirates (+27.3%), Azerbaijan (+19.3%), Turkey (+14.3%), South Korea (+10.5%), China (+7.4%) and Israel (+3.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia, with a CAGR of +57.1% from 2012-2021. By contrast, Kyrgyzstan (-7.1%) and Kazakhstan (-14.0%) illustrated a downward trend over the same period. Japan (+7.9 p.p.), Thailand (+5.4 p.p.), Bangladesh (+5.3 p.p.), South Korea (+4.4 p.p.), Azerbaijan (+3.2 p.p.), Cyprus (+3.1 p.p.), Indonesia (+3.1 p.p.), China (+2.9 p.p.) and the United Arab Emirates (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while Kyrgyzstan and Kazakhstan saw its share reduced by -10.8% and -28.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported hay-making machinery in Asia, comprising 35% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Japan stood at +9.4%. In the other countries, the average annual rates were as follows: China (+10.1% per year) and South Korea (+11.1% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, rising by 8.1% against the previous year. Over the last nine years, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2013 an increase of 37% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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